The Small Business CGT Concessions have been in existence in their current guise since September 1999. Since then there have been numerous changes, which have both expanded and contracted the scope of their operation. The latest changes are contained in Tax Laws Amendment (2009 Measures No. 2) Bill 2009 which was introduced on 19 March. Most of the changes contained therein have retrospective effect from 1 July 2007 and accordingly there will be immediate implications for the preparation of 2008 tax returns and in respect of advice given on transactions yet to be finalised.
This event discussed what the changes are and where that leaves us.